Reason why I put all my money in Bitcoin as a newbie - page 2.

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Quote from: adzino on July 23, 2022, 10:52:24 AM

Find it weird how everyone is praising you or is saying that you did the right thing. If I were you I wouldn't put all my money in Bitcoin or any crypto currencies. The crypto currency market is very volatile and has a lot of risk associated with it. Even though the risk with investing in bitcoin is low, you still shouldn't invest everything you have in bitcoin. What if after you invest, the market starts going down and then you need some money? You will have to sell your coins at a loss. Invest what you can afford to lose. Diversifying your portfolio isn't that bad. Some altcoins might give you good profit. Put most in bitcoin, rest in some altcoins.

The reason why they praise op is because op pick btc over those risky investments and then the op do also recommends other newbies to do the same thing. Dunno bout you but for me that act was really commendable as only few of the newbies are doing that. The op didn't say that he sold his house, car and everything only to invest it all in bitcoin, so don't worry.

Not all cryptos are volatile but there are also cryptos which are kinda stable and are literally stable like usdt busd. If there are very volatile here then that will be bitcoin. High volatility can also mean high risk but at least we are more sure that btc can recover than investing on those who are truly risky.

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Quote from: Ojima-ojo on May 17, 2022, 04:39:13 PM

-snip

Bitcoin is really the best choice when investing into cryptocurrencies but putting all your investment fund is very risky thing to do. It's price is very volatile and there could be a time that when you decide to sell some of it, its price could be lower than what you've bought it. It's always better to diversify your investments to reduce the risk of losing it all instantly. You should also have a physical investment like real estate not just focus on digital assets.

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Quote from: Ojima-ojo on May 17, 2022, 04:39:13 PM

Am still new in this space both in cryptocurrency and in this forum and seeing what is happening even to stable coins lately make me decide to put all my investment funds into Bitcoin since Bitcoin has never crashed or a billion coins getting minted out of no we're and dump into the market just like Luna tereUSTD did, so for your peace of mind I advise newbies to rely only on highly decentralized crypto Bitcoin.

Bitcoin is considered to be the safest currency in crypto, yet one should invest with proper planning like how many years you gonna hold it.

Quote from: P2PECS on July 08, 2022, 05:04:54 AM

Such sell-off is what tesla did recently offloading about 75% of their total bitcoin holding, [...]

Who cares mate,
If tomorrow Michael Saylor sells his bitcoins, it will not bother me. Because i know At the end of the day, only those will remain who believe in bitcoin.

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Find it weird how everyone is praising you or is saying that you did the right thing. If I were you I wouldn't put all my money in Bitcoin or any crypto currencies. The crypto currency market is very volatile and has a lot of risk associated with it. Even though the risk with investing in bitcoin is low, you still shouldn't invest everything you have in bitcoin. What if after you invest, the market starts going down and then you need some money? You will have to sell your coins at a loss. Invest what you can afford to lose. Diversifying your portfolio isn't that bad. Some altcoins might give you good profit. Put most in bitcoin, rest in some altcoins.

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Quote from: Oasisman on July 23, 2022, 07:49:50 AM

Quote from: dataispower on July 21, 2022, 12:31:42 PM

Many people saw cryptocurrency as a good way of making money in exemption of fiat currency.

Kinda true. However, not everyone knew how Bitcoin works.
Many believe because they have heard the hype and might only got interested because they've heard stories from the early adopters who has been enjoying their lambo and lavish lifestyle.
Many people also lost their money with Btc simply because they believe Bitcoin could give them fortune in just a few months. Until they experienced the bear market, that where they turned to become a weak hands by selling in fear that they might lost everything. They don't have any idea what will Bitcoin brings in the long run.

The points you make are good, but be careful before the meeting about longing and shorting. The fact that Bitcoin would rise from the dead every single time made sense to me. It is unfortunate that many people make assumptions and allow emotions to cloud their judgement. You can make profit on this market by reading between the lines instead of being emotionally driven and jumping the gun. Don't follow other story lines, instead make your own. There's still a lot of buying in the market.

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Quote from: dataispower on July 21, 2022, 12:31:42 PM

Many people saw cryptocurrency as a good way of making money in exemption of fiat currency.

Kinda true. However, not everyone knew how Bitcoin works.
Many believe because they have heard the hype and might only got interested because they've heard stories from the early adopters who has been enjoying their lambo and lavish lifestyle.
Many people also lost their money with Btc simply because they believe Bitcoin could give them fortune in just a few months. Until they experienced the bear market, that where they turned to become a weak hands by selling in fear that they might lost everything. They don't have any idea what will Bitcoin brings in the long run.

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Quote from: lienfaye on July 20, 2022, 01:54:28 AM

Quote from: Wiwo on July 19, 2022, 03:35:51 PM

Well the trust in Bitcoin as an alternative currency and Bitcoin as a store of value, is why some Bitcoin enthusiasms make Bitcoin their sole currency and never look at the other coins in the market. But then one needs to make adequate provision against a rainy day by diversifying the portfolio and investing in some stablecoins that have the possibility of making good profits in the future.

Actually its not surprising if many investors chose Bitcoin as their main crypto investment and afraid to diversify especially during bearish season. Its because Bitcoin is proven to be reliable compared to other altcoins that has a possibility to lose their value. Thats why if the particular investor decided to stick to Bitcoin and not considering to diversify their portfolio, we cant blame them since its hard to take risk in alts (though some of these coins are also worth to invest in).

True, because of how reliable Bitcoin is most people prefer to only invest only Bitcoin than to diversify investment to altcoins because of the how risky investing in altcoins can be . Since the existence of bitcoin, bitcoin has always been surviving every bear market and with this people found rest of mind in investing bitcoin. Some altcoins are profitable though bit you never can tell how reliable they can expecially in the bear market.

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Quote from: dataispower on July 21, 2022, 12:31:42 PM

Many people saw cryptocurrency as a good way of making money in exemption of fiat currency, so Bitcoin since it has thrown to air many people started to like bitcoin. Recently no average youth who is not interested or who is not into cryptocurrency, i believe that investing money for cryptocurrency weather it is large or small, it's good to invest into cryptocurrency because it's a cryptocurrency give asset and profit. Newbies investing funds into cryptocurrency is not bad idea because many people is using cryptocurrency best investment platform

But you shouldnt really make yourself to forget about risk management since we know that everything cant really give out that kind of assurance that you could make profit or even saying that this market

would last forever thats why all in kind of investment wont really give out that 100% sure for you to make profits but since we do already have the experience and glimpse about the potential specially on bitcoin which could really give out that kind of confidence which i cant really blame out people on why they do end up on having these kind or type of decisions.

As long you arent compromising much of your finances or not putting not much risk then it should be fine as long you are aware with your actions.

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Many people saw cryptocurrency as a good way of making money in exemption of fiat currency, so Bitcoin since it has thrown to air many people started to like bitcoin. Recently no average youth who is not interested or who is not into cryptocurrency, i believe that investing money for cryptocurrency weather it is large or small, it's good to invest into cryptocurrency because it's a cryptocurrency give asset and profit. Newbies investing funds into cryptocurrency is not bad idea because many people is using cryptocurrency best investment platform

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The most important thing for success is being willing to take risks, if we want life to change then it is appropriate to do extreme things, namely putting all the money in cryptocurrencies, if so, the next step is to be patient to wait because I believe the market will recover soon.

Ojima-ojo

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Quote from: P2PECS on July 08, 2022, 05:04:54 AM

Quote from: Wiwo on July 07, 2022, 04:37:56 PM

We should think more about the risk of having all your investments in one single portfolio, such as bitcoin. Bitcoin happens to be the most reliable cryptocurrency for investment but at the same time, Bitcoin is a highly volatile asset. So I will still advise you to diversify your portfolio into multiple sources.

I agree. It is not uncommon on a BTC forum to have people who have either all in bitcoin or a very significant part of their net worth in it. I prefer to be diversified.

The problem with having it all in BTC as the OP comments are that some people panic when things don't go as expected and sell at a loss.

Such sell-off is what tesla did recently offloading about 75% of their total bitcoin holding, and the company sold the Bitcoin below the purchase price which is a taxable and capital loss.

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Quote from: Wiwo on July 19, 2022, 03:35:51 PM

Well the trust in Bitcoin as an alternative currency and Bitcoin as a store of value, is why some Bitcoin enthusiasms make Bitcoin their sole currency and never look at the other coins in the market. But then one needs to make adequate provision against a rainy day by diversifying the portfolio and investing in some stablecoins that have the possibility of making good profits in the future.

Actually its not surprising if many investors chose Bitcoin as their main crypto investment and afraid to diversify especially during bearish season. Its because Bitcoin is proven to be reliable compared to other altcoins that has a possibility to lose their value. Thats why if the particular investor decided to stick to Bitcoin and not considering to diversify their portfolio, we cant blame them since its hard to take risk in alts (though some of these coins are also worth to invest in).

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Quote from: freedomgo on July 18, 2022, 03:13:44 PM

Quote from: posi on July 10, 2022, 04:04:49 AM

Quote from: Wiwo on July 07, 2022, 04:37:56 PM

We should think more about the risk of having all your investments in one single portfolio, such as bitcoin. Bitcoin happens to be the most reliable cryptocurrency for investment but at the same time, Bitcoin is a highly volatile asset. So I will still advise you to diversify your portfolio into multiple sources.

I think he's just talking about bitcoin and other altcoins in the crypto space. It isn't wrong to put all of your money into bitcoin without using altcoins, which is something that a lot of newbies do not do.

Diversifying a portfolio from multiple sources is essential, cryptocurrencies are not a 100% safe environment and will always generate profits. So we will also have to invest in other areas besides cryptocurrencies.

Bitcoin is a good choice for safe and profitable long term investment but knowing the market is highly volatile, that makes bitcoin price too prone to fall. So if its hard for you to see bitcoin price consistently fall, as well as with the rest of altcoins, then diversifying your investments through stocks, real estate, or bonds may also be a good choice. At least, when one investment falls, you still have other sources of investment to generate profits.

Although Bitcoin has proven to perform very well in pandemic situations compared to other assets, but it seems unwise to risk all of our money
to invest in Bitcoin. After all, Bitcoin is an asset with a very high risk, because the price is very volatile and very difficult to predict. So we still have
to be careful and be able to diversify investments to make us safer, however investing in only one asset is not recommended. Especially in a bear
market situation like now it is very tiring and frustrating if we only invest in Bitcoin. As you said to maximize profit we should also consider investing
in other assets. We can learn a lot from some successful investors, most of them definitely diversify their investments and don't rely on just one asset
to make a profit.

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Quote from: Alisha-k on July 10, 2022, 03:45:32 AM

Putting all your money in Bitcoin is saying Bitcoin is now your legal tender. Meaning you only transact Bitcoin no more fiat, Bitcoin is better as a store of value due to volatility but when comparing it to stable coins and some altcoins it remains a better option. But to So as not to risk more than you can afford spreading your portfolio is better even though the percentage might not look even but it will save some heartbreaking moment

Well the trust in Bitcoin as an alternative currency and Bitcoin as a store of value, is why some Bitcoin enthusiasms make Bitcoin their sole currency and never look at the other coins in the market. But then one needs to make adequate provision against a rainy day by diversifying the portfolio and investing in some stablecoins that have the possibility of making good profits in the future.

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Quote from: posi on July 10, 2022, 04:04:49 AM

Quote from: Wiwo on July 07, 2022, 04:37:56 PM

We should think more about the risk of having all your investments in one single portfolio, such as bitcoin. Bitcoin happens to be the most reliable cryptocurrency for investment but at the same time, Bitcoin is a highly volatile asset. So I will still advise you to diversify your portfolio into multiple sources.

I think he's just talking about bitcoin and other altcoins in the crypto space. It isn't wrong to put all of your money into bitcoin without using altcoins, which is something that a lot of newbies do not do.

Diversifying a portfolio from multiple sources is essential, cryptocurrencies are not a 100% safe environment and will always generate profits. So we will also have to invest in other areas besides cryptocurrencies.

Bitcoin is a good choice for safe and profitable long term investment but knowing the market is highly volatile, that makes bitcoin price too prone to fall. So if its hard for you to see bitcoin price consistently fall, as well as with the rest of altcoins, then diversifying your investments through stocks, real estate, or bonds may also be a good choice. At least, when one investment falls, you still have other sources of investment to generate profits.

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Quote from: Ojima-ojo on May 17, 2022, 04:39:13 PM

Am still new in this space both in cryptocurrency and in this forum and seeing what is happening even to stable coins lately make me decide to put all my investment funds into Bitcoin since Bitcoin has never crashed or a billion coins getting minted out of no we're and dump into the market just like Luna tereUSTD did, so for your peace of mind I advise newbies to rely only on highly decentralized crypto Bitcoin. Until you learn enough to decide which risk to take and which not to.

I totally buy this, this is indeed a thoughtful decision and it's a right one, Bitcoin is the most trusted cryptocurrency, in terms of security of funds, in terms of liquidity and volume, Bitcoin has it all, in terms of decentralization, Bitcoin is the father, no entity of group of persons or individual can temper or have access to Bitcoin's code, it is built to run on its own without any interference from any third party.
Bitcoin is indeed the only trusted crypto coin to start crypto currency investment with, and as the investor grow and learn how to manage risks, he or she can start diversifying to other coins.
It's a simple but very good strategy.

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Quote from: posi on July 10, 2022, 04:04:49 AM

Quote from: Wiwo on July 07, 2022, 04:37:56 PM

We should think more about the risk of having all your investments in one single portfolio, such as bitcoin. Bitcoin happens to be the most reliable cryptocurrency for investment but at the same time, Bitcoin is a highly volatile asset. So I will still advise you to diversify your portfolio into multiple sources.

I think he's just talking about bitcoin and other altcoins in the crypto space. It isn't wrong to put all of your money into bitcoin without using altcoins, which is something that a lot of newbies do not do.

Newbies or Old timer , yeah there are some decided to buy purely in bitcoin but there are also many that desires buying multiple coins so maybe this is other part of the discussion.

Quote

Diversifying a portfolio from multiple sources is essential, cryptocurrencies are not a 100% safe environment and will always generate profits. So we will also have to invest in other areas besides cryptocurrencies.

though there are some who only invest in Bitcoin but as majority of advices you get now are saying it is always best to diversify our folio , from buying one coin and another for holding long term.

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Quote from: Raflesia on July 10, 2022, 01:03:28 PM

Quote from: posi on July 10, 2022, 04:04:49 AM

Diversifying a portfolio from multiple sources is essential, cryptocurrencies are not a 100% safe environment and will always generate profits. So we will also have to invest in other areas besides cryptocurrencies.

That is indeed very important Diversification as another source, if people don't do this then I think it's a wrong step, of course we should be able to find opportunities from other sources so that they don't fall at the same time, when bitcoin drops then we can see from the diversification that we use while in On the other hand, fluctuations in cryptocurrencies are unpredictable and very vulnerable to fluctuations.
Investment in various other sources must be done so that we can do good management.

During times like these, we are forced to recognize the importance of diversifying our portfolio as part of our financial strategy.
At the moment, cryptocurrencies cannot provide us with the desired income, some are even stuck in the market due to their previous buy being made at too high prices that they were not able to recover from. Therefore, it is essential that we have an outside investment to support us during the difficult days that the market brings.

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Quote from: Wiwo on July 07, 2022, 04:37:56 PM

We should think more about the risk of having all your investments in one single portfolio, such as bitcoin.

well , it has been said already that it is better to invest in single coin such bitcoin than currency that represent altcoins because those are very risky and most of those died in sooner time.

so it is better for the said single investment than other coin to Bitcoin.

Quote

Bitcoin happens to be the most reliable cryptocurrency for investment but at the same time, Bitcoin is a highly volatile asset. So I will still advise you to diversify your portfolio into multiple sources.

all currency are volatile mate ,except from Stable coins so yes either diversifying or not? yet cryptocurrency are volatile and you will only learn when you experiences losses before gaining.

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Quote from: Piesel on June 11, 2022, 04:23:08 PM

Putting everything into Bitcoin may seem to be the smartest move to make to secure your investment for long-term purposes, but the truth of the matter is diversification is a very important attribute of an investment. So I will still suggest you rethink and make your portfolio up of quality assets that have long-term goals.

All altcoins depend on bitcoin, none of them do well when bitcoin's price is falling, so it would not be wrong to invest all your money into bitcoin. There is a difference between crypto markets and other financial markets, in that they are less dependent on one another, but in the case of crypto, the rest of the market tracks bitcoin. Portfolio diversification is only true when you invest in altcoins not bitcoin, bitcoin is the safest in the crypto market.

Topic: Reason why I put all my money in Bitcoin as a newbie - page 2. (Read 1942 times)